CDSaint
03-04-2005, 03:40 PM
http://story.news.yahoo.com/news?tmpl=story&u=/ap/20050303/ap_on_re_us/yale_financial_aid
Beginning next year, families making less than $45,000 will no longer have to pay tuition for their children, and those earning between $45,000 and $60,000 will see their required contributions drop an average of 50 percent, Yale said.
"The general message is that Ivy League schools are affordable," Yale President Richard Levin said. "This is a dream that can be achieved."
Levin said many qualified students don't bother applying to Yale because they figure their parents can't foot the tuition of about $41,000 a year, including room, board and other fees. But about 40 percent of undergraduates receive financial aid, with an average award this year of $22,000.
The average family earning less than $60,000 will save about $2,700 under the new plan, the university said. It estimated the changes will cost about $3 million, and will be paid for by using interest from the school's $12.7 billion endowment and with money saved on operating expenses.
Beginning next year, families making less than $45,000 will no longer have to pay tuition for their children, and those earning between $45,000 and $60,000 will see their required contributions drop an average of 50 percent, Yale said.
"The general message is that Ivy League schools are affordable," Yale President Richard Levin said. "This is a dream that can be achieved."
Levin said many qualified students don't bother applying to Yale because they figure their parents can't foot the tuition of about $41,000 a year, including room, board and other fees. But about 40 percent of undergraduates receive financial aid, with an average award this year of $22,000.
The average family earning less than $60,000 will save about $2,700 under the new plan, the university said. It estimated the changes will cost about $3 million, and will be paid for by using interest from the school's $12.7 billion endowment and with money saved on operating expenses.